Snap Shares Surge 16% In Premarket After Perplexity AI Deal And Stock Buyback Announcementshttps://t.co/Ogfcs8MoPv https://t.co/3Uvj1oJJrC ...

Financial Data and Key Metrics Changes - The company generated revenue of $1.12 billion in Q3 2025, with adjusted EBITDA of $360 million and an adjusted EBITDA margin of 32% [13][14] - Year-over-year revenue decreased by 27%, while adjusted EBITDA increased by 59%, and adjusted EBITDA margin improved from 15% in the prior year period [14] - Free cash flow for the quarter was $399 million, with a conversion rate of adjusted EBITDA at 111% [23][24] Business Line Data and Key Metrics Changes - UFC segment revenue was $325 million, a decrease of 8%, with adjusted EBITDA of $166 million, down 15% [15][16] - WWE segment revenue increased by 23% to $402 million, with adjusted EBITDA rising by 19% to $208 million [17][18] - IMG segment revenue decreased by 59% to $337 million, but adjusted EBITDA improved significantly from -$7 million to $61 million [20][21] Market Data and Key Metrics Changes - UFC's media rights production and content revenue decreased by 7% to $201 million, while WWE's media rights production and content revenue increased by 9% to $249 million [15][18] - WWE's live events revenue increased by 61% to $83 million, driven by higher ticket sales and site fee revenue [17] - The company secured significant media rights agreements, including a seven-year, $7.7 billion deal with Paramount for UFC and a five-year partnership with ESPN for WWE [5][7] Company Strategy and Development Direction - The company is focused on maximizing shareholder value, preparing for UFC's Paramount debut, and launching Zuffa Boxing in 2026 [11][30] - Strategic priorities include sustaining strong performance across all businesses, capitalizing on new growth opportunities, and enhancing global partnerships [11][30] - The company aims to achieve $450 million in high-margin partnership revenue by 2025 and targets $1 billion in total company partnership revenue by around 2030 [31] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's momentum, citing strong demand for premium sports content and experiences [5][11] - The company raised its full-year 2025 guidance for revenue to $4.69 billion-$4.72 billion and adjusted EBITDA to $1.57 billion-$1.58 billion [26] - Management highlighted the importance of site fees and global partnerships as significant revenue drivers for 2026 and beyond [30][66] Other Important Information - The company announced a 100% increase in its quarterly cash dividend program, with a payment of approximately $150 million made under the new program [24] - A $1 billion stock buyback program was launched, with an ASR agreement to repurchase $800 million of Class A Common Stock [24][25] Q&A Session Summary Question: Discussion on UFC media rights and international opportunities - Management emphasized the importance of execution and operational expansion, focusing on maximizing media rights opportunities internationally [37][39] Question: WWE live events revenue growth - Management noted that both premium live events and weekly events contributed to revenue growth, with high capacity and appropriate pricing strategies [40][41] Question: Distribution model with Paramount and pay-per-view model - Management clarified that while some markets still utilize pay-per-view, the focus is on expanding distribution through subscription models [46] Question: Incremental flow-through margin percentage and fighter pay structure - Management indicated that the new media rights deal would be margin accretive, with plans for increased fighter pay in line with historical margins [48][49] Question: Opportunities in boxing and potential for larger investments - Management expressed a strong appetite for boxing, focusing on super fights and the Zuffa Boxing league, while remaining cautious about distractions from core operations [52][56] Question: Site fees as a revenue driver - Management highlighted the potential for significant revenue from site fees, particularly with upcoming events in Saudi Arabia and ongoing discussions with various municipalities [64][66]

Financial Data and Key Metrics Changes - The company generated revenue of $1.12 billion in Q3 2025, with adjusted EBITDA of $360 million, reflecting a 59% increase year-over-year [13][14] - Adjusted EBITDA margin improved to 32%, up from 15% in the prior year period [14] - Reported revenue decreased by 27% year-over-year, primarily due to the impact of the 2024 Paris Olympics [14] Business Line Data and Key Metrics Changes - UFC segment revenue was $325 million, down 8%, with adjusted EBITDA of $166 million, a decrease of 15% [15][16] - WWE segment revenue increased by 23% to $402 million, with adjusted EBITDA rising 19% to $208 million [16][17] - IMG segment revenue decreased by 59% to $337 million, but adjusted EBITDA increased significantly to $61 million from a negative $55 million [20][21] Market Data and Key Metrics Changes - UFC's media rights production and content revenue decreased by 7% to $201 million, while WWE's media rights production and content revenue increased by 9% to $249 million [15][18] - Live events and hospitality revenue for UFC decreased by 15% to $44 million, while WWE's live events revenue surged by 61% to $83 million [16][17] Company Strategy and Development Direction - The company is focused on maximizing shareholder value, preparing for UFC's Paramount debut, and expanding WWE's presence on ESPN [11][12] - Significant media rights agreements have been secured, providing a high-margin, contractual revenue stream with annual escalators [12][30] - The company aims to achieve $450 million in high-margin partnership revenue by 2025 and targets $1 billion in total company partnership revenue by around 2030 [31] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's momentum and the strong demand for premium sports content [5][11] - The outlook for Q4 2025 is positive, with expectations of strong financial performance driven by increased events and new media rights agreements [26][29] - The company is preparing for a significant step-up in financials in 2026 due to new media rights deals and increased site fees [30][31] Other Important Information - The company announced a 100% increase in its quarterly cash dividend program, with the first payment of approximately $150 million made on September 30 [24] - A $1 billion stock buyback program was launched, with an ASR agreement to repurchase $800 million of Class A Common Stock [24][25] Q&A Session Summary Question: Why was Paramount chosen as the partner for LATAM and Australia? - Management highlighted the strong brand alignment and marketing plan offered by Paramount, which provided the best rights fee and overall value for the company [36][39] Question: What is the outlook for WWE live events revenue? - Management indicated that both premium live events and weekly events are contributing to revenue growth, with increased ticket prices and capacity [40][42] Question: What is the distribution model with Paramount? - The company plans to sell a significant amount of content to distributors, focusing on maximizing monetization opportunities internationally [45][46] Question: What are the expectations for fighter pay in the UFC? - Management confirmed that there will be an increase in fighter pay, aligning with the margins maintained over the years [49][50] Question: Are there plans for more boxing events beyond the current joint venture? - Management expressed a strong appetite for boxing, with plans for multiple super fights and leveraging Zuffa Boxing to enhance revenue opportunities [53][56] Question: How significant will site fees be in 2026? - Management indicated that site fees will be a major revenue driver, with ongoing discussions for multiple events globally [65][68]

Core Viewpoint - Uber Technologies is set to report its Q3 earnings, with a focus on consumer spending and the company's autonomous vehicle initiatives, following a significant stock rally of nearly 65% year-to-date [1][2]. Financial Performance - Uber's revenue for the September-ended quarter is expected to grow 19% year-over-year to $13.28 billion [3]. - Earnings are projected to decline 42% to 69 cents per share, influenced by a tough comparison from Q3 2024, which included a $1.7 billion pretax benefit from unrealized equity investment gains [4]. - Adjusted EBITDA is anticipated to rise 34% year-over-year to $2.27 billion [4]. - Analysts forecast gross bookings to increase 19.5% year-over-year to $48.95 billion, with expectations of 18% growth to $52.1 billion for the December-ending quarter [5]. Robotaxi Strategy - Analysts will be looking for updates on Uber's robotaxi strategy, as the company has partnered with over a dozen robotaxi providers [6][7]. - Uber is facing competition from Waymo, which has over 1,500 robotaxis operating in the U.S. and plans to add 2,000 more next year [8]. - Recent developments include Uber's announcement of a robotaxi service using Lucid vehicles in the Bay Area, with plans to deploy over 20,000 Lucid electric vehicles equipped with Nuro's driving system over the next six years [9][10]. Stock Performance - Uber stock is currently trading at 89.92, having formed a flat base pattern with a buy point at 101.99 [11]. - UBS analyst Stephen Ju raised his price target for Uber stock from 117 to 124, maintaining a buy recommendation, citing challenges for robotaxi providers in competing with ride-hailing platforms [8][9].

Core Insights - Enterprise Products Partners L.P. (EPD) is a leading provider of midstream energy services in North America, operating a vast network of pipelines and storage facilities for natural gas, crude oil, and other energy products [1] Financial Performance - EPD reported earnings per share (EPS) of $0.61 for Q3 2025, slightly below the estimated $0.65, while revenue reached $12.02 billion, exceeding the estimated $11.83 billion [2][6] - The net income for Q3 2025 was $1.3 billion, a decrease from $1.4 billion in Q3 2024, with net income per common unit also declining from $0.65 to $0.61 [3] Shareholder Returns - The company has increased its buyback authorization to $5 billion, reflecting confidence in its financial stability and commitment to enhancing shareholder returns [4][6] Valuation Metrics - EPD's price-to-earnings (P/E) ratio stands at 11.61, indicating investors are willing to pay $11.61 for each dollar of earnings, while the price-to-sales ratio is 1.23 [5] - The enterprise value to sales ratio is 1.81, and the enterprise value to operating cash flow ratio is 11.27, highlighting the company's valuation relative to its sales and cash generation capabilities [5]

Core Insights - Shell reported adjusted earnings of $5.4 billion for Q3, down from $6 billion year-over-year but above the consensus estimate of $5.09 billion [1] - Cash flow from operations (CFFO) reached $12.2 billion, exceeding the forecast of $11 billion, although it was lower compared to the previous year due to declining oil prices [2] - The company experienced stronger Q3 results compared to Q2, driven by robust operational performance and increased trading and optimization contributions [2] Production and Trading Performance - Shell's production of liquids and natural gas, along with LNG output and trading volumes, increased from Q2, contributing to the earnings beat [3] - The indicative refining margin rose to $11.60 per barrel in Q3 from $8.90 in Q2, with refinery utilization increasing to 96% from 94% [4] Shareholder Returns - The company announced a $3.5 billion buyback program for the next three months, marking the 16th consecutive quarter of at least $3 billion in buybacks [5]

Core Insights - The search and data-analytics company has raised its fiscal 2026 guidance, indicating positive growth expectations for the upcoming years [1] Group 1 - The company is focused on enhancing its data analytics capabilities to drive future growth [1] - The updated fiscal guidance reflects confidence in the company's strategic initiatives and market position [1]

Core Viewpoint - Newmont (NEM) has demonstrated strong momentum in 2025, with shares gaining nearly 130% and reaching an all-time high, driven by robust quarterly results [1] Group 1: Gold Price Impact - Newmont has significantly benefited from the surge in gold prices, leading analysts to revise EPS expectations higher, indicating a bullish outlook for near-term share performance [2] - The average gold price per ounce reached $3,320, up from $2,347 in the same period last year, highlighting the favorable operating environment [3] Group 2: Financial Performance - Newmont reported a record free cash flow of $1.7 billion during the latest period, showcasing its strong cash-generating capabilities [3] - The company's enhanced cash-generating abilities have resulted in increased dividends and share buybacks, contributing positively to its financial health [3][7] Group 3: Share Buyback Program - Following the positive financial results, Newmont announced an additional $3 billion share repurchase program, further enhancing investor confidence [6]

Core Insights - Thumzup Media Corporation is implementing a $10 million share repurchase program to enhance shareholder value, following a previous $1 million buyback program [2][4] - The company's stock price has seen fluctuations, recently trading at $4.82, up about 6% for the day, but down approximately 20% over the last month [3] - Thumzup holds significant digital assets, including approximately 19.1 BTC valued at $2.17 million and 7.5 million DOGE valued at $1.83 million, and plans to expand its cryptocurrency holdings [4] Company Actions - The board of Thumzup has approved a share repurchase program that will run through the end of 2026, reflecting confidence in the company's long-term strategy [2][4] - The company has completed an initial buyback of 212,432 shares at a weighted average price of $4.71 per share [2] - Thumzup is also pursuing an acquisition of DogeHash Technologies, which would enhance its cryptocurrency mining capabilities [5] Market Context - Other cryptocurrency treasury companies, such as SharpLink Gaming and ETHZilla, are also engaging in stock buyback schemes, indicating a trend within the industry [6] - DeFi Development Corporation, another player in the crypto space, has announced a significant buyback plan of up to $100 million, highlighting the competitive landscape [6]

Buyback Announcements - A significant buyback of $5 billion was announced by a major company, adding to a long list of companies engaging in stock buybacks recently [1] - Uber announced a $20 billion buyback on August 6, while Charles Schwab announced a $20 billion buyback on July 24, which some view as a potential market catalyst [4][5] - The buyback trend is noted across various companies, with approximately 25% of companies in a growth portfolio having announced buybacks in the last couple of years [7] Company Performance and Strategy - Companies like Lamb and KLA Corp are favored not solely for their buybacks but for their involvement in the artificial intelligence infrastructure buildout, alongside major players like Nvidia and Broadcom [3] - Uber's strong free cash flow, projected at $9 billion this year and expected to rise to $10 billion and $12 billion in the following years, supports its buyback decision [5] - Charles Schwab's buyback is seen as surprising given its recent funding crisis, raising questions about its financial strategy [5][6] Market Implications - The buyback announcements are viewed as management signaling that they believe their shares are undervalued, rather than as direct catalysts for stock price increases [8][9] - There is a belief that the acceleration in buybacks reflects strong fundamentals of many companies, potentially leading to multiple expansions if the market continues to rise [12] - The financial sector may see buybacks as a more significant catalyst compared to other sectors, but the overall sentiment is that buybacks should not be the sole reason for investment decisions [10][12] Industry Trends - The gaming industry is highlighted with Electronic Arts experiencing a decline in shares, while Google integrates AI into its mobile games, indicating a competitive landscape [13] - Electronic Arts is noted for achieving an 80% profit margin and increasing free cash flow, showcasing strong financial health and active gamer engagement [14]